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FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs

An unappealed final determination of the FAIS Ombud against an FSP is legally equivalent to:

RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.

  1. a) A civil court judgment, enforceable as such.Correct
  2. b) An internal decision of the FSP.
  3. c) A press statement with no binding effect.
  4. d) A SARS tax assessment.

Why this is the answer

Once it stands unappealed, the Ombud's final determination has the status of a civil court judgment and can be enforced accordingly. It is not a mere internal view, a non-binding statement, or a tax assessment.

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